Investors are pouring money into cannabis startups. Venture firms invested $881 million into cannabis startups in 2018, over double the amount raised a year prior, according to the data provider PitchBook.
That money has gone into two larger buckets: first, are consumer cannabis startups. These are companies that sell and distribute THC and CBD-containing products, like oils, skincare products, edibles, and even pre-rolled joints.
Second, are cannabis tech startups that provide the software and hardware to support the rapidly growing industry.
While the cannabis industry is still nascent — THC, the main psychoactive component of the plant isn’t federally legal in the US — startups are jockeying for market share in an attempt to dominate the early innings of what some Wall Street analysts say could be a $194 billion global industry by 2030.
To help get a sense of what the landscape looks like for startups in